Driving Successful Product Innovation | Sopheon

This is probably THE most important question. Author Simon Sinek’s TEDx Talk, “Start with Why: How Great Leaders Inspire Action,” is a must-watch for anyone. The presentation posits that the key to any organization’s success is identifying why you’re doing what you do. Unfortunately, we forget about the “why” over time, especially in new product development. We get preoccupied with the other more pressing concerns: when what, and how.

“Why” is about strategy. For many companies, it’s about transformation. For example, Pepsi-Cola transformed from one type of product—indulgent drinks and snacks—into a balanced portfolio where they incorporated healthy products. For others, the “why” might be about environmental sustainability, corporate growth, or product leadership.

Your “why” should be the anchor for your product. When a product idea is proposed, scrutinize whether the product supports the company’s mission and strategic goals. Continue examining the “why” through every development phase. If the product strays from the mission at any time, it’s good to ask why (another why!) and determine if there are actions to re-center things or, potentially, scrap the product altogether.

In my experience, the most innovative companies have answers for all six of these questions and understand how these queries intersect before, during, and after product development and launch.

Sopheon helps organizations answer these questions and ensure visibility to ensure a successful new product launch. And listen to more about this topic on the Innovation+ Talks podcast.

Our new e-book, “Four ways executives can accelerate innovation and new product development,” offers insight on how you can promote more profitable NPD, accelerate enterprise growth and achieve long-term success. Download it now.